MEP Infrastructure Developers receives LOA for BOT project

Posted On:
2019-08-23 08:53:36

MEP Infrastructure Developers Limited ('MEP') has received Letter of Acceptance ('LOA') dated August 22, 2019 from Public Works Department, Government of Maharashtra for the following Project: 'Appointment of Contractor for Collection of toll at approved rates on all specified vehicles at Thane-Bhiwandi-Wadpa Road (S.S.H.) SH 84 BOT Project from km. 0/000 to km. 8/090 in Thane District in the State of Maharashtra'.

Key highlights of the Project are as under:

1. Terms of the Contract Agreement:

a. The operations will commence after complying the statutory formalities viz. submission of performance security, signing of contract as per the LOA.b. Period of the Contract is 3 years.

2. The Total contractual amount for the said Project is Rs. 36,63,00,000/- (Rupees Thirty Six Crores Sixty Three Lakhs Only) payable on quarterly upfront basis.

Shares of MEP Infrastructure Developers Ltd was last trading in BSE at Rs.28.75 as compared to the previous close of Rs. 30.4. The total number of shares traded during the day was 52011 in over 141 trades.

The stock hit an intraday high of Rs. 30 and intraday low of 28.75. The net turnover during the day was Rs. 1548538.